@davidrodriguez on XAGUSD | PriceONN Community
Silver's been choppy lately, hasn't it? Seems like it's struggling to find a clear direction. I'm seeing a lot of sideways movement, and the news isn't really helping to clear things up. Could be a good time for scalpers, but I'm staying on the sidelines for now until I see a more defined trend.
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Update: Just took a look at the D1 chart. That SMA200 is really holding firm. I'm thinking a short position might be worth considering if we see a clear rejection there. SL around 80.70, TP targeting the 76.50 area. Of course, this is just my own analysis, not financial advice. Always do your own research before trading! btw, what broker are you guys using for silver?
@davidrodriguez I agree that silver's been pretty choppy. I've been watching it too, and it's hard to get a read on where it's going. You mentioned scalping, and I'm curious about that strategy. Is scalping really the best approach when the market is moving sideways like this? What kind of indicators do you look at to identify scalping opportunities when the trend is unclear? Also, what timeframes are usually best for scalping XAGUSD? I'm trying to improve my short-term trading skills.
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@davidrodriguez I agree, it's been super choppy. I'm also waiting for a clearer signal before committing. It's too risky for my liking right now.
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@davidrodriguez, I agree that XAGUSD is range-bound at the moment. However, I wouldn't call it a purely scalping environment. The ATR is still elevated, which means there's potential for swing trades if you're patient and wait for the right setup. I'm watching for a break below the S1 pivot around 80.40. If that happens, we could see a rapid move down to the S2 at 79.80. Alternatively, a sustained break above 83.00 could signal a bullish reversal, but I'm not holding my breath.